In a report released today, Joseph Pantginis from H.C. Wainwright reiterated a Buy rating on Krystal Biotech Inc (KRYS), with a price target of $38. The company’s shares closed yesterday at $32.
Pantginis said:
“Valuation and risks to price target achievement. We reiterate our Buy rating and are increasing our target to $38 from $32. The changes to our valuation include: (1) adjustment to base year to reflect the current NPV relative to our September 2018 initiation of coverage; and (2) increasing our projected chance of success for to 15%. We are currently leaving our projected chance of success for KB103 the same, at 25%, and await the pending clinical update this quarter.”
According to TipRanks.com, Pantginis is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -2.8% and a 31.5% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Iovance Biotherapeutics Inc, and Checkpoint Therapeutics Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Krystal Biotech Inc with a $43.38 average price target, implying a 35.6% upside from current levels. In a report issued on May 13, William Blair also maintained a Buy rating on the stock.
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Based on Krystal Biotech Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $4.11 million. In comparison, last year the company had a GAAP net loss of $2.15 million.
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Krystal Biotech, Inc. is a gene therapy company, which engages in developing and commercializing treatment for patients suffering from dermatological diseases. It developed a gene therapy platform, which company refer to as the Skin TARgeted Delivery platform, or STAR-D platform, that consists of a patent pending engineered viral vector based on herpes simplex virus 1, or HSV-1, and skin-optimized gene transfer technology, to develop off-the-shelf treatments for dermatological diseases for which company believe there are no known effective treatments. The company was founded by Suma M. Krishnan in December 2017 and is headquartered in Pittsburgh, PA.
